City of Lansing (Mich.) Employees' Retirement System, with $170 million in assets, and Lansing Police and Fire Retirement System, with $260 million in assets, will hear presentations in mid-December from four core real estate manager finalists. George Tarlas of Asset Consulting, the systems consultant, declined to identify the managers.
A decision is expected by years end, he said. The two funds are targeting 5% of assets each for their first real estate allocations, Mr. Tarlas said. Funding will come from rebalancing.